Standard Chartered to cut staff mainly in UAE retail as it looks to become leaner
Standard Chartered is said to be cutting more than 100 jobs in the UAE in second round of layoffs. The bank is making redundant senior to mid-tier executives in retail operations, mostly back-office and support staff. Final tally of job cuts could be between 100-150. The bank plans to serve the termination notices before December 15. The bank’s chairman said that they are making organizational changes in the UAE retail client business to position themselves for growth as the bank switches to digital to become leaner. (MEED)
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